I recently asked my fellow personal finance bloggers (and my readers) to contact me and let me know about their favorite charities. Several bloggers and readers have responded – but I’d still love to hear from you! So, read the original post about the Charity Spotlight 2007 and let me know about your favorite charity. Today, the spotlight shines on a charity mentioned by two of my readers – Modest Needs Website: Modest Needs A quote from the Modest Needs website – Founded in 2002, Modest Needs is an award-winning public charity with a simple but critical mission: we work to stop the cycle of poverty BEFORE it starts for the low-income workers whom conventional philanthropy has forgotten. We do…

I just downloaded the forms for opening a Coverdell Education Savings Account for my son. I opened an ESA for my daughter a few years ago, when she was four. My son will be four in a few days, and I am ready to begin funding an ESA for him. Contributions to a Coverdell ESA grow tax-free. Total contributions are limited to $2000 per year, per child. Contributions can be made by parents, grandparents, friends, etc. Our goal, in the next 14 months, is to fully-fund my son’s ESA for 2007 (by April 15 of 2008) and for 2008 (by April 15 of 2009). As is the case with most retirement or education savings accounts, there are contribution limits, income…